According to materials prepared for a meeting of the Russian-Iranian commission for economic and trade cooperation, Iran evaluates positively outlooks of Russian oil and gas companies for participation in Iranian oil and gas projects. In particular, Gazprom, within the framework of an international consortium, continues activities on the project of developing the field South Pars in Iran. Some 50bn cubic meters of gas have been produced there since the exploration of the field started. Currently Gazprom's participation in laying a pipeline Iran-Pakistan-India is being considered.
According to the materials, Tatneft has implemented contracts on exploring a number of oil fields in Iran.
Construction of the Bushehr nuclear power station in Iran totaling about $1bn by Russia creates outlooks for further cooperation of the two countries in the sphere of nuclear energy.
The Russian-Iranian trade volume increased to $803m in 2002. In the first 9 months of 2003 it reached $1bn.